Future plc
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Future plc is a British publishing company. It was started in 1985 by Chris Anderson. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
History
1985–2012
The company was founded by Chris Anderson as Future Publishing in Somerton, Somerset, England, with the sole magazine Amstrad Action in 1985.[1] An early innovation was the inclusion of free software on magazine covers.[1] It acquired GP Publications and established what would become Future US in 1994.[2]
Anderson sold the company to Pearson plc for £52.7m in 1994, but bought it back in 1998, for £142 million.[1] The company was floated on the London Stock Exchange in 1999.[3] Anderson left the company in 2001.[4]
In 2004, the company was accused of corruption when it published positive reviews for the video game Driver 3 in two of its owned magazines, Xbox World and PSM2.[5]
2012–2015
Future published the official magazines for the consoles of all three major games console manufacturers (Microsoft, Nintendo, and Sony); however PlayStation: The Official Magazine ceased publishing in November 2012, and Official Nintendo Magazine ceased publishing in October 2014.[6][7]
The chief executive and finance director both resigned at short notice after a profit warning in October 2011. It was noted that a re-structuring would be necessary as the company moved to a digital model.[8]
Future announced it would cut 55 jobs from its UK operation as part of a restructuring to adapt "more effectively to the company's rapid transition to a primarily digital business model."[9] The company announced in March 2014 that it would close all of its U.S.-based print publications and shift U.S. print support functions such as consumer marketing, production and editorial leadership for Future's international print brands to the UK.[10] Later in 2014, Future sold its sport and craft titles to Immediate Media, and its auto titles to Kelsey Media.[11]
In April 2014, Zillah Byng-Thorne (then finance director) was appointed chief executive to replace Mark Wood, who had been in the position since 2011.[10]
2016–2021
In 2018, Future made further major acquisitions. It bought the What Hi-Fi?, FourFourTwo, Practical Caravan, and Practical Motorhome brands from Haymarket; and it acquired NewBay Media, publisher of numerous broadcast, professional-video, and systems-integration trade titles, as well as several consumer music magazines.[12] This acquisition returned most of the U.S. consumer music magazines to Future, with the exception of Revolver which had been sold to Project M Group in 2017.[13]
It bought the Purch Group for $132m by September 2018,[14][15] and in February 2019 bought Mobile Nations including the titles Android Central, iMore, Windows Central and Thrifter for $115 million.[16][17] Future also acquired Procycling and Cyclingnews.com from Immediate Media.[18] In July 2019 the company bought SmartBrief, a digital media publisher, for an initial sum of $45 million.[19]
In November 2019, the company bought Barcroft Studios for £23.5 million in a combination of cash and shares.[20] It renamed it Future Studios and announced the launch of "Future Originals", an anthology gaming series, a "factual" series focusing on the paranormal, and a new true-crime show, in partnership with Marie Claire.[21]
In April 2020, it acquired TI Media with 41 brands for £140 million.[22] In November, it agreed to a £594m takeover of GoCo plc, known for its Gocompare.com price-comparison website.[23] In August 2021, it acquired Dennis Publishing and its 12 magazines, for £300 million.[24]
2022–present
The company was criticised in February 2022 for the size of the remuneration package being offered to Zillah Byng-Thorne, the chief executive. It was noted that she could receive £40 million if the company performed well.[25]
Byng-Thorne resigned with effect from 3 April 2023 and was replaced as chief executive by Jon Steinberg.[26]
In April 2023, the company sold its shooting magazines including Shooting Times and Sporting Gun to Fieldsports Press.[27]
In August 2024, the company announced that its American trade papers Broadcasting & Cable and Multichannel News[28] would be closing after more than 90 years, with the main title Broadcasting having been first published in 1931 and the merged title Multichannel News dating from 1980.[29] In October 2024, the company closed a number of consumer titles in the United Kingdom, including Play, All About Space, Total 911, and 3D World, with the monthly movie magazine Total Film[30][31] ceasing publication after 27 years.[32]
Kevin Li Ying took over the position of CEO on 31 March 2025.[33]
Organisation
In addition to media and magazines, the company has two other businesses:
- Future Studios is its video division, built upon the acquisition of Barcroft Media in 2019.[34]
- Marketforce is its sales, marketing, and distribution company, acquired as part of a 2019 deal with TI Media.[35]
Brands
Future's portfolio of brands includes TechRadar, PC Gamer, Tom's Guide, Tom's Hardware, Marie Claire, GamesRadar+, MusicRadar, How it Works, Digital Camera World, Creative Bloq, CinemaBlend, Android Central, IT Pro, BikePerfect, Truly, Windows Central, Chat, and the website GoodToKnow.co.uk.[36][37][38][39]
References
External links
Template:Future Publishing magazines Template:FTSE 250 Index constituents Template:Authority control
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- ↑ a b Future US streamlined to focus on digital Template:Webarchive, RNS Number : 3903D, Future PLC, 28 March 2014
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- Pages with script errors
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- Future plc
- Computer magazine publishing companies
- Magazine publishing companies of the United Kingdom
- Companies based in Bath, Somerset
- British companies established in 1985
- Publishing companies established in 1985
- 1985 establishments in England
- Companies listed on the London Stock Exchange
- Companies in the FTSE 250 Index
- 1999 initial public offerings